Chetcuti Cauchi has received the first Malta Golden Visa Programme (MRVP) approvals since its inception in February 2016. The Malta Residence & Visa Programme provides the opportunity for non-EU /EEA/ Swiss investors to obtain permanent residency in Malta.
At what stage is the Malta Golden Visa Approval issued?
The Letter of Approval In Principle, which is issued 3-4 months from the submission of the MRVP application is a letter issued by Identity Malta certifying the approval of the application and confirming that the applicant and his dependents qualify to benefit under the programme with the condition of fulfilling the criteria set by the law.
Conditions of the first Malta Golden Visa Approvals
The main requirements to be eligible to apply under the Malta Golden Visa Programme are the following ::
- The payment of the remaining balance of the Contribution: €30,000 less the €5,500 already paid on application; i.e. €24,500
- The purchase or rental of property to be held for 5 years respectively, subject to the minimums established by the rules (€320,000 / €12,000 per year)
- Qualifying investment of €250,000 in government approved bonds;
- Holding a Health Insurance Coverage
Next Steps after Malta Golden Visa Approval
The beneficiary is given three months following the issuance of the Letter of Approval In Principle to comply with the lease/purchase of the qualifying property, the qualifying investment and purchase the health insurance coverage. Once the requirements have been fulfilled, Identity Malta will issue an invitation letter for the beneficiary and the dependents to visit Malta to take biometrics for the card to be issued.
When are the cards issued?
Both the Permanent Residence Certificate and the E-Residence Cards will be issued within 3 - 5 days of approval.
